Financial forecast reveals school funding primarily remains with community

The Loveland City School District's five-year financial forecast is available for community members to review.

Outside consultant Ernest Strawser with Public Finance Resources Inc. presented the data at the Oct. 15 Board of Education business meeting, which included projections for how the new state funding formula could impact the district.

"We were hopeful that the new biennial budget passed this year would mean significant increased funding for our district, because we are nearing the end of the 3.5 mill levy our community passed in 2011," said Brett Griffith, Loveland City School District treasurer/CFO.

"While we do see an increase in state funding for the upcoming year, we are still recovering from funding we lost from the state in fiscal years 2011 and 2012 - which was the equivalent of a 2 mill loss.

"Essentially what we learned is that the state is not a major investor in our school district as a result of the new state funding; our local investors continue to be our main investors. This is an important point we must consider as we contemplate the anticipated May levy."

Details of the five-year forecast are available on the treasurer's page of the Loveland City School District website at www.lovelandschools.org (accessed from the main page by clicking "Our Financial Story"); in addition, Griffith has put together a frequently asked questions (FAQ) website section for the community to use as an educational resource.

"There is a complexity to education funding we are working to simplify for our community," Griffith said. "We appreciate the partnership we have with the investors who live and work in the Loveland City School District, and our goal is to provide those people with the information they need to keep that valued relationship strong. I've said it before, and I'll say it again - my door is always open to discuss the financial story of this district."

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Financial forecast reveals school funding primarily remains with community

The Loveland City School District's five-year financial forecast is available for community members to review.